Business Valuation & Solvency Opinions

Mr. Tittle performed and led valuation work [and testified, if applicable] in the following selected bankruptcy cases:

Christopher J. Redmond, Trustee Of Brooke Corp., Brooke Capital Corporation (F/K/A Brooke Franchise Corporation) and Brooke Investments, Inc. v. NCMIC Finance Corporation; Work and testimony with regard to Solvency, Reasonably Value, Value, and Damages on behalf of Defendant
In re: Tusa Office Solutions; Valuation of the Debtor as of the Preference Period and Petition Dates on behalf of Defendant involving $8 million in allegedly potentially voidable transfers including calculations of diminution to the Estate and Improvement in Position pursuant to Bankruptcy Code Sections 547(b)(5) and 547(c)(5), respectively
In re: Tower Automotive, et al.; Valuation and solvency work for Trustee seeking recovery of voidable transfer
In re: AbitibiBowater, et al.; Valuation and solvency work for Ad-Hoc Equity Committee
In re: Rockaway Bedding, Inc., et al.; Valuation and solvency work for Trustee seeking recovery of voidable transfer
In re: PNG Ventures; Valuations for negotiations with parties-in-interest and for confirmation purposes
In re: M&M Drying, et al; (Commercial Alloys Corporation), Valuation analyses for equity cushion/contested cash collateral analysis
In re: Daisytek, Inc., et al; Liquidation Analysis, among other valuation work
In re: MBS – Lodge at Stone Oak Ranch, Ltd.; Feasibility, Interest Rate – Confirmation Issues
In re: Gilbertson Restaurants, LLC and In re: KC Beaton Holding Company, LLC; Feasibility, Interest Rate – Confirmation Issues
In re: Mirant Mid-Atlantic, LLC; Solvency Opinion – Motion to Dismiss for Bad Faith Filing
In re: Park Pharmacy; Feasibility and Interest Rate
In re: Kevco, I.nc; Reorganization Value in post-confirmation litigation
In re: Loewen Group, Inc.; Liquidation Value and Best Interests of Creditors Test
In re: Petition of Thomas D. Powers, As Joint Liquidator For the Estate of Mid-American Indemnity Insurance Company, Debtor in a Foreign Proceeding

Selected descriptions of these cases include
(not presented elsewhere):

In re: Tusa Office Solutions, Inc. – Testifying Expert on behalf of Knoll, Inc. in various adversary proceedings brought by Marilyn Garner as Chapter 7 Trustee of Tusa Office Solutions, Inc. in connection with approximately $7.4 million of alleged voidable transfers. Mr. Tittle prepared valuations on going concern and liquidation bases as of the date that Tusa Office Solutions filed its Chapter 11 case as well as 90 days prior to that date. John also made calculations relative to the application of the enterprise and liquidation values using various tests set out in the Bankruptcy Code as interpreted by the attorneys for Knoll. Mr. Tittle rendered deposition testimony and trial testimony during continued hearings. The Judge found that none of the payments in question were preferences/voidable transfers and in so doing, adopted Mr. Tittle’s liquidation analysis. A copy of the opinion is available upon request.

In re: Loewen Group, Inc. – Testifying Expert on behalf of Directors Investment Group in its objections to the confirmation of the Plan of Reorganization of The Loewen Group, Inc.Work involved the preparation of liquidation analyses under various scenarios in a very complex bankruptcy case comprised of over 1,000 debtor entities.Mr. Tittle testified in Bankruptcy Court relative to the findings that the Plan of Reorganization as presented did not comply with the Best Interests Test, based upon liquidation values, and discriminated among classes of unsecured creditors.The Judge confirmed the plan over the objections of many parties, including Directors Investment Group.

In re: Petition of Thomas D. Powers, As Joint Liquidator For the Estate of Mid-American Indemnity Insurance Company, Debtor in a Foreign Proceeding – Testifying Expert on behalf of the Foreign Representative of Mid-American Indemnity Insurance Company to analyze, review and testify as to a series of business transactions over a 10-year period between a Cayman Island domiciled excess lines insurance carrier, a domestic excess lines carrier, several related offshore reinsurance companies and other related offshore entities to determine whether the transactions in question were an attempt to transfer to other persons or entities value created within the Debtor. The engagement also included determining the solvency of the Debtor and the related domestic excess lines carrier at certain points in time. Determined that the transactions were fraudulent and designed to hinder, delay and defraud creditors. Prepared a report and an affidavit in the case. The matter was settled prior to Mr. Tittle’s testimony

Outside of bankruptcy or litigation, Mr. Tittle performed and led valuation work in the following types of companies:

Law Firms
Restaurant Chains
Wholesale Distributor of Building Materials
Specialty Subcontractor
Construction Equipment Fabrication and Rental Company
Manufacturer and Distributor of Leather and Leather-related Products
Manufacturer, Importer, and Distributor of Apparel Accessories
Sheepskin and Sheep Wool Tanning Company
Distributor of Shoe Care and Repair Supplies
Leather Finishing and Distributing Companies
Short Line Railroads
Railroad Signal Control Company
Ferry Operation
Internet Content Company
Mechanical Contractors
CLEC/ISPs
Consumer Leisure Product Company